2022 could be the year when the ‘dormant giant’ that is Brazil finally wakes up, paving the way for the jurisdiction to become one of the largest betting markets in the world.
In its latest country report, BtoBet dives into the growing potential for the Brazilian market should regulations be finalised in the near future.
With the biggest consumer bases in Latin America, and a population with a propensity for gaming, Brazil presents numerous opportunities for gaming operators to expand their footprint.
However, the country’s government has to decide on the number of licences that it will be handing out, and more importantly, under what terms.
The report reads that “whilst progress has been slow, there is a big expectancy that once regulated the local sports betting industry could develop itself into one of the most lucrative on a global stage. The esports environment, a proxy for gambling, reveals that Brazil already ranks as the third-largest customer base worldwide with more than 30 million players.
“This shows the appetite among Brazilians for gaming entertainment and provides support for the forecasts of dramatic market expansion once gambling is legalised.”
Later this month, the lower house of Brazil’s Congress is preparing to vote on sports betting and lottery regulations which could pave the way for the market to grow even further.
Having generated revenues of BRL 7 billion in 2020, the gambling industry could serve as a steady revenue source for the government while also creating a number of new jobs.
BtoBet’s Industry Report also provides an in-depth analysis of local player behaviour, and indicates that in addition to sports betting, the local players also bet on Federal Lottery, Fantasy Game, Online Casino, and online bingo. Particularly in relation to Fantasy Games, the primary sports of engagement were football, basketball, volleyball, and American football.
The report cites statistics published in a recent study which indicate that when it comes to online casino, 78% of the participants indicated they play roulette. Blackjack also was highly popular resulting in 66% of the answers, 64% of the participants said they play table games, slots featured in 63% of game choices, video poker featured in 61% of the total votes, whilst 50% of the participants also indicated they play live dealer games.
“Brazil Betting Focus” also provides in-depth details of the profiles of local players, detailing their betting preferences, and also discussing how their wallet-share is allocated on a monthly basis.
Read the full report HERE